Japan rubber futures extend losses

SINGAPORE: Japanese rubber futures fell for a fifth consecutive session on Monday, tracking losses in the Shanghai market on rising inventories, although a softer yen helped limit losses.

Osaka Exchange’s rubber contract for January delivery finished 0.5 yen, or 0.3%, lower at 197.0 yen ($1.39) per kg.

The benchmark contract has been hovering near a two-year low since July 18. The rubber contract on the Shanghai futures exchange for January delivery fell 45 yuan to finish at 12,905 yuan ($1,794.08) per metric ton. Japan’s benchmark Nikkei average closed up 0.19%.

Rubber inventories in warehouses monitored by the Shanghai Futures Exchange rose 4.8% from a week earlier, the exchange said on Friday, its steepest week-on-week gain so far this year.